Question :
The bank account as a control device that assists to protect cash. One of the needs is to conduct periodic bank statement reconciliations. Using the following data, complete the bank statement reconciliation.
Use the information below to purpose the bank reconciliation for EEE Electric for the month of September.
- The bank statement shown bank service charges of $63.
- Outstanding checks as of September 30 amounted to $1,405.
- Deposits in transit as of September 30 amounted to $2,769.
- The ending balance per the September bank statement is $40,653.
- EEE's bookkeeper incorrectly recorded a $1,610 cash disbursement as $1,160 for Office Supplies on check #2402.
- The bank incorrectly recorded a deposit of $2,800 as $280 on February 17.
- The bank made an EFT payment on behalf of the company for Insurance for $3,200.
- Bank collected rent of $3,000 and a note, for $16,450, adding interest of $450.
- The ending cash balance per the books for September before any adjustments was 28,900